RMC Vanguard is seeking producers. If you guys/ladies are so unhappy, look around. We are not a net branch situation, but do hire in over 20 states. I'd be happy to compare our top 30%'s w-2's to your top 30%.

* Mortgage Banker since 1996
* Pinnacle award from BBB
* In house everything
* Under 30 days to close a loan

No offence taken, you simply don't understand our business model. We close about $60 million a month. We focus on high FICO and low LTV's, but we do underwrite FHA and VA in our office. We have referral partners, and high quality leads. FHA loans are normally if they don't fit into the FHLMC/FNMA guidelines.

_________________I'm committed to providing a service worthy of your endorsement.

It seems absurd for Prospect employees to have to defend their company on this public forum where individuals (who are perhaps really business competitors) can simply post ridiculously false statements about the company and then hide behind the anonymity of the internet and a site that has no more credibility than a tabloid.Â However, it seems apparent that certain individuals will perpetuate these untrue and anonymous tactics until they are brought out into the open and exposed. Rest assured, I am certain Pros
pect will find you, disclose your name to the public, and pursue all available courses of action against you and anyone else found to be complicit in the posting and spreading of these intentional misrepresentations and propaganda with the sole motive to harm the reputation and business of our company.Â

Â

With that said, as those people who work at Prospect can attest, Prospect thrives on open and honest dialogue. Â No one at Prospect has ever been penalized for speaking their mind, and in fact being unafraid to voice an honest opinion is one of the attributes the current company leadership most value. Â In that context, it is distressing that one individual who claims to be a current employee â but who by all appearances is a former employee (perhaps one who washed out?) -- does not have the integrity to engage in a true exchange of views open and honestly with the Company and has resorted to this line of anonymous attack.Â Why do you hide behind the veil of secrecy provided by the internet?Â If you are not happy at Prospect (if you are truly even an employee), move on. Life is too short. Your real motive seems obvious.

Â

Prospect is not afraid of the truth, and welcomes the opportunity to talk to existing loan officers as well as those interested in making a move about what is going on at the Company. Â Contrary to what Chicagoguy says (and think about what his motivations might be), the story at Prospect is a good one -- indeed as good if not better than any company in the industry. Â Here are the facts to some of the more sensational claims Chicagoguy makes:

Â

1. Fact - Presidents club was a great event. I know, I was there. Â I was one of many speakers at the event. It was the best one in Prospectâs history.

2.Â Fact - Prospect has 600+ LOs.Â But what difference does it make to argue about whether it is 10, 600, 800 or 10,000 unless you are purposefully trying to harm the reputation and business of Prospect. Â The fact remains that people at Prospect -- who are often recruited by a slew of competitors â throw their hat in with the Company and its current leadership.Â

3. Fact. Â If you are going to try and fabricate credibility by throwing Prospect employee names around, it would certainly help if you spelled their names correctly. Â

4. Fact. In 2012, Prospect has hired multiple new state and branch managers and a new regional manager. Â People creating value are not jumping off the ship.Â The reality is that subpar performers cannot get on board or stay on board in todayâs environment. The vast majority of people who perform at Prospect stay at Prospect -- simple as that. Â

5. Fact - Jeremy Derosa was not Prospect's top recruiter. Â This is an insult to the more than dozen recruiters that performed better than Derosa. In fact, not one top recruiter has ever left prospect . It is the most exciting company in the industry to build. Â The Company's top recruiters remain at the Company and are loyal to their local leadership and executive leadership.Â (As an aside, while I am not a lawyer, I would suggest a refresher course on non-solicitation provisions).Â

6. Â Fact. Â People leave companies. Â Prospect wishes Ed Vaccaro and Jeremy Derosa the best. Â Most people stay at Prospect as evident by the 93 percent retention rate, but of course that would be a substantially longer list to compile and defeat the apparent ill-intent of Chicagoguyâs email, which is why Chicagoguy does not bother. Â It is also interesting to note that there are multiple references to certain people and actions in NorCal in the postings.Â Would cause me to be extremely curious and suspect of postings. Â NorCal, Ed and Jeremy continuously are referenced in several postings. That is more than a coincidence. One last thing on this matter- prospect has the regional manger they want in nor cal. Nino is a class act and well respected in the industry and by prospect.Â

7. Fact â In regard to the BofA matter, there are two sides to every story. Â Only prospects side is relevant to the truth and facts regarding licensing Â The world is different now than it was a few years ago. Â With licensing and business requirements, not everyone can survive in every environment. Â Prospect has a slew of people who have adapted and are thriving in this challenging environment -- and those are the people that Prospect wants to grow with.Â

8. Fact â Prospect is growing in Florida. Â Jose is a lifelong friend of Prospect and accepted an incredible opportunity in another industry. We have great new leadership in the State. Same holds true for the State of Virginia.

9. Fact â Everyone should be lucky enough to have an LO like Brian Minkow ($200M in fundings). He is a world-class LO, a great man, and an amazing and inspirational leader. Â Comments regarding him are not only inaccurate but insensitive.Â

10.Â Fact - Prospect is not for sale. This is still my all-time favorite comment. The original post we are all replying to is titled "will prospect survive 2010". Seriously? This is 2012 already.Â Just like when the rumor circulated with the suggestion MetLife was buying Prospect. Â Oops. Someone may have gotten the story backward, perhaps on purpose to mislead and try to create an unfair competitive advantage. Â Prospect is doing great and achieving some incredible results. Check out some of the data on Compare Scores, 203K volume, homepath lending, total purchase lending among private companies. Bring the ...truth is always the best answer and defense.Â

Â

All these posts show is an individual, or individuals, with an axe to grind, and knows a few of Prospectâs players to throw names around to try and create some illusion of credibility. Â If you want to know the truth, Prospect would be happy to speak with you. Otherwise, proceed carefully.Â Â

I had someone send me this chain. There are so many funny things about this that I had to post.

Using a scale of 1-10 who scores highest in the "how big of a jack a## on a public forum can you be?" game.

The first contestants are the people bashing a second tier company with only 600 LO's; using ridiculously poor grammar and in some cases with incomprehensible gibberish. The evidence submitted to the court is every post above.

The second contestants are the people defending themselves against these fools with eloquently written emails, that also happen to be filled with lies. The following is the evidence for the court to review. See corpguy2012's fact of "Most people stay at Prospect as evident by the 93 percent retention rate" Then see the interview posted on Prospect's very own website with Prospect's CEO from almost exactly a year ago http://www.myprospectmortgage......ate=110321 and if the link doesn't work, here is the quote that's so funny.

"[b]INSIDE MORTGAGE TRENDS[/b]: Can you give a brief explanation of Prospect Mortgage?

[b]RON BERGUM[/b]: We are, from a market share position, the largest private, non-bank, retail-only mortgage company in the United States. We are a 27-state distribution, 50-state licensed entity. We did north of $9 billion [in business] last year. The way that we rank from the market share reports on the purchase side, weâre 8th in conventional purchase money in the U.S., weâre a top-five FHA lender in the country.

Our distribution is all retail; no wholesale and no correspondent at this time. [u]Primarily through 1,000 originators that are in 27 different states[/u]

Now I could be reading this wrong, but according to their website and CEO, Prospect started March of 2011 at 1,000 originators. And according to the âinsiderâ corpguy2012 a year later they have ended in the 600âs. At best case, they had a 70% retention and at worst case they had a 60% retention. That number is slightly different than the 93% that was mentioned. Unless they measure retention in months, not years. Because it is perfectly believable that they only lost 7% of their sales staff last month.

Now, before the argument that was used earlier in this chain of, âwe only lost the people that flamed out and/or were firedâ gets used; like the tactic corpguy2012 pathetically tries to implement in fact four, there is one more funny item to mention here. The CEO referenced they funded over $9B in 2010. The public Mortgage Executive Magazine just published that Prospect funded $6.9B in 2011. Letâs give them the benefit of the doubt and say they only funded $9B in 2010. That means in a year when most quality companyâs volume at worst case flat lined year over year, Prospectâs best case scenario was that their volume went down approximately 24%. Iâm sure there were non-producers in that attrition (which asks the question, why are so many non-producers hired to this company), but 24% is a huge drop.

And letâs not mention the fact, that if corpguy2012 is willing to lie about retention by at least 23 points, what does that do for the validity of the rest of his/her post?

Back to the scale, who wins the biggest jack a## game. I have to say the bashers win. You canât blame corpguy2012 for signing on to defend his/her company. They are obviously proud of their organization. Theyâre an idiot for openly and poorly lying about it, but proud none-the-less. But the people who are publicly bashing another company on a forum as dumb as this are nothing more than degenerates. This chain needs to go away. Whether Prospect pulls itself out of itâs obvious losses or not impacts nobody but those people whom work there. Give it a rest.

[The people there are nice but you cant get the loans done. Mgmt tries to help but they can get anywhere. You think the point accumulator is bad news for them what until they are investigated for the Lead Generation pay to Real Estate offices.

Here's one for the history books! Just been notified that Prospect is trying to gain my IP address. I stated they were nice people but couldn't close loans. I never mentioned that they lost every referal source I brought to them, took in excess of 60 days to close loans or were marketing my clients & referal sources months after I left them with my name, picture & phone numbers. I welcome this desperate attempt. Again they were nice put did not have their act together, to put it midly it was a mess! Prospect needs to focus their energies on getting the operation together. They burned every producer I know and no one is looking back. Perhaps they should think about the money they lost for the people that were in lock step with them. Sad, very sad.

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